Partnership taxation, unlike corporate taxation, is a pass through tax regime. It combines entity and individual principles of taxation. In our tax outline, we explore topics relevant to partnership tax law students and attorneys. We introduce the concepts of entity selection, basis in assets contributed to a partnership, recognition of gain and loss on contribution and distribution of assets to or from a partnership, the sale of partnership interests, the theory of substantial economic effect, and much more.
The regulations under Subchapter K of the Internal Revenue Code, which governs partnership taxation, are among the most complicated regulations passed by the Treasury Department, yet understanding them is vital if one is to understand partnership tax law.
Our partnership outline may help to guide you as you conduct further research into the area of partnership law. For a FREE copy of the partnership tax outline in Word or PDF format, simply email us at the following email address: info@taxprocedure.com. We will be glad to forward a copy of the partnership tax outline to you.